MUMBAI — Indian stock markets closed lower on Friday, tracking weakness across global equities as investor sentiment turned cautious and selling pressure hit most sectors.
The Sensex dropped 400.76 points, or 0.47 percent, to end at 85,231.92. The Nifty also fell 124 points, or 0.47 percent, closing at 26,068.15. Market breadth remained negative, with losses across large-, mid- and small-cap segments.
Analysts said the Nifty’s key demand zone between 26,000 and 25,900 continues to offer strong support. “A decisive close above 26,200 remains the crucial trigger for the next leg of the uptrend, potentially unlocking targets of 26,277 and 26,300,” they noted.
Among the major gainers on the BSE were Maruti Suzuki, Tata Motors’ passenger vehicle division, Mahindra & Mahindra and Asian Paints. Top laggards included Tata Steel, HCLTech, Bajaj Finance, Bajaj Finserv and Eternal.
Sectoral performance was largely negative. The Nifty Metal index saw the sharpest decline, slipping 2.34 percent. Nifty Realty dropped 1.86 percent, while Nifty PSU Bank fell 1.43 percent. Nifty FMCG was the lone index to finish in the green, inching up 0.14 percent.
The broader market mirrored the weakness. The Nifty Midcap 100 fell 1.13 percent, and the Nifty Smallcap 100 declined 1.22 percent as profit-taking intensified after a brief two-day rebound.
Market watchers said the sell-off tracked a broader decline across Asian markets after stronger-than-expected U.S. non-farm payroll data dampened hopes of a December rate cut. Sentiment was further pressured by a soft manufacturing PMI reading, a weakening rupee, and concerns over possible delays in India–U.S. trade discussions.
Analysts added that profit-booking and heightened caution ahead of global events contributed to the decline, dragging all major indices into the red, with mid- and small-cap stocks seeing larger corrections. (Source: IANS)
